CMA CGM Air Cargo Division Reports Steep Decline in Q1 Revenue and Profit
Shipping giant CMA CGM has reported a significant downturn in its first-quarter financial results, with its air cargo division experiencing a particularly sharp decline. The group's overall revenue fell by 21% to $11.8 billion, with net profit plunging 78% to $785 million. Specifically, the air cargo unit saw its revenue drop by 37% to $201 million, while its EBITDA slumped by 86%. This performance reflects challenging market conditions and a 10% fall in cargo volumes, occurring as the company navigates the end of its air cargo partnership with Air France-KLM.
Official Source: https://theloadstar.com/cma-cgm-q1-revenue-profit-down-and-market-share-squeezed/
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